Know what to do, what not to do, and where to go for the best deal when buying a car in Las Vegas. This can positively impact both the term of your loan and the life of your vehicle. Here are five tips on making a seamless purchase:
- Do: Boost Your Credit Score Before Purchasing
There is a direct correlation between your FICO credit score and the loan you’ll be able to secure – it’s an approximate illustration of the financial risk you pose to lenders. A better credit score can mean better financing terms and lower interest rates. Never forget the fine print on contracts that refers to “qualified buyers,” which translates to buyers with excellent credit. One of the best ways to quickly boost your credit is by paying down your credit card debt.
- Do: Consider What You Need Your Car For
Your dream car might not be practical in real life, especially when you honestly consider its main purpose. Family needs, the demands of your job or commute and other real life factors must be analyzed when buying a car in Las Vegas. Discuss all of the “must haves” and your budget with your dealer so he or she can help you find the right vehicle.
- Do: Consider Certified, Pre-Owned Vehicles
Unfortunately, most cars lose value quickly, even if they haven’t sustained a lot of wear and tear from desert driving. Most certified, pre-owned vehicles with low mileage are good indications the previous owner has considered the depreciation cost without neglecting the car’s care.
- Don’t: Discount Dealer Financing
Getting approved for financing before you enter negotiations with a dealer might help him or her match or beat the rate your bank or credit union offered. In addition, a dealer might be able to get you the best rate on manufacturers’ incentives such as low- or zero-percent financing. While that’s usually only true when purchasing a new car, it’s a rate traditional lenders won’t match. There’s also incentives on pre-owned vehicles occasionally.
- Don’t: Forget About Registration & Maintenance Fees
There will be attached fees, including Nevada state registration, taxes and maintenance costs, license and documentation fees that must be included in your budget. A good rule of thumb is to plan on spending from 10 to 15 percent of your total monthly budget on these expenses. If you buy a new car, the warranty commonly covers major repairs for at least the first three years, although it usually doesn’t include oil changes or replacement costs for batteries, windshield wipers or tires.
When you’re buying a car in Las Vegas, these guidelines can help you get the best possible deal. At Valley AutoMall in Henderson, the skilled staff at any of our dealerships will personally discuss your dream vehicle with you, including answering questions on financing, incentives, specials or rebates. Give us a call at 702-570-2257 or visit our 20 dealers for all of your automotive needs.